Why NSBroker Doesn’t Suck In 50 Words
As traders, we need just a few things to be happy with our broker: safety (i.e. regulation), fair trading conditions (i.e. low spreads), and a good charting package (i.e. Meta Trader). NSBroker ticks all the boxes! It is supervised by not one but 7 financial watchdogs, spreads are as low as 0.8 pips (believe me, that’s VERY low) and they offer two versions of Meta Trader 5 (MT5 Desktop and MT5 Mobile). If ThatSucks, I don’t know what doesn’t!
Why NSBroker Sucks In 50 Words
Unfortunately, this broker doesn’t offer services to clients from the United States. It’s a shame because, despite US regulations, Americans still trade with offshore brokers, most of them unregulated and shady. So it’s too bad that US clients cannot trade with NSBroker and ThatSucks for them. As for the rest of the world: you have a great trading partner.
Is NSBroker A Scam?
How should I put this… NO! This is not some broker that just popped up a few months ago, claiming to be the best and the safest. They are in business since 2011, which is clearly a ton of experience and is supervised/regulated by no less than six financial authorities, so how can we suspect such a broker of being a scam? We cannot, but bottom line is that you should always check the Terms And Conditions of any broker, to make sure you are staying within the legal boundaries set by the company, in order to avoid any unpleasant surprises.
Should I Open An Account With NSBroker?
NSBroker is a fully regulated well-known FX and CFD broker launched in 2011. Founded and run by a group of experienced traders, this broker offers trading services based on the MetaTrader 5 platform with more than 100 tradable products. The owning company is NSFX Ltd., regulated since 2012 by the Malta Financial Services Authority (MFSA), License no.IS56519. NSBroker is also authorized by the British FCA – reference number 595195 – to offer services in the EEA (European Economic Area) and the following regulatory bodies have given their approval for NSFX Ltd. to provide cross border investment services in their country:
• BaFin Germany – Registration Number: 131055
• ACP France – Registration Number: 74397
• CONSOB Italy – Registration Number: 3597
• CNMV Spain – Registration Number: 3354
• FINANSTILSYNET Denmark – Registration Number: 9221
Apart from being regulated, with huge experience and a great trading platform, NSBroker was founded and is run by traders, and let’s be honest, as traders we like to deal with other traders, not a bunch of corporate suits. And those are not just words because their fellow trader mentality shows throughout their educational material, analytics, market updates, and overall trading conditions.
By the end of Q3 2019, NSBroker had 32,673 active clients and about 166 new registrations every day. The monthly average number of executed trades reached nearly a million. From all these impressive numbers, it’s clear that NSBroker is thriving and that people are confident trading with them.
Currently, NSBroker offers two types of accounts: a demo account that is free and has unlimited usage time and a real account. The real account is a type of ECN account with very low spreads (from 0.8 pips) and an initial minimum deposit of 250 USD/EUR/GBP. It’s true that some other brokers offer lower deposit requirements but it’s also very important to gauge the trust you can give to those brokers: would you rather invest 100 USD with an unregulated broker that’s been in business for a year? Or would you rather invest 250 USD/EUR/GBP with a broker that’s been in business for almost a decade and is regulated in every jurisdiction where they operate? To me the answer is simple: if you want to be a trader, choose the best possible partner and invest the 250 bucks – after all, that’s your trading capital, it’s not like you pay the broker this amount.
For those willing to learn, NSBroker offers a comprehensive education center that covers the knowledge of financial investments from basic to advanced. Traders can learn to trade through videos, e-books, articles, or directly via in-depth market analysis made by NSBroker trading experts.
Overall, NSBroker’s offering is more than satisfactory: their regulation is airtight, spreads are extremely low, the trading platform is probably the best in the industry (Meta Trader 5 in two versions: desktop, and mobile) and accounts are segregated (all clients’ funds are 100% isolated from the organization’s funds and saved into independent bank balances). Also, NSBroker is signed up to the Maltese Investor Compensation Scheme, which serves as a limited safety net for certain classes of investors in the event of the broker’s bankruptcy.
Personally, as a trader with about 10 years of experience, I cannot ask for more from a broker, and NSBroker ticks all my boxes. We at ThatSucks wholeheartedly recommend opening an account with NSBroker but the final decision should be yours. Always!
NSBroker’s registered address is 168 Saint Christopher Street, Valletta VLT 1467, Malta and can be contacted at phone +356(27)78-15-65; +44 (208) 089-08-14 or email [email protected].
We couldn’t locate any complaints regarding this broker and all user reviews are positive, talking about the low spreads and the fact that account managers are not bothering or pressuring them in any way. We all know that some (most) brokers use their account managers as salespersons, focused on making you deposit more, so it’s good to hear that NSBroker doesn’t go on that road.
The supported methods are credit cards and bank transfers; the processing times are short (1 day for cards and 2 days for wires), but maybe the most important thing is that NSBroker doesn’t have any minimum withdrawal requirement, so even if you only have 1 USD in your account, you can withdraw it without any limitation. As for fees, NSBroker doesn’t charge any, which is obviously a great advantage.
Supervision from 6 financial authorities is clearly an extra feature, but other than that we can mention that NSBroker offers a large number of cryptocurrencies to trade as Contracts For Difference, a thing which will surely please crypto traders! On top of this, NSBroker offers Negative Balance Protection, which means that your account will not go into negative territory in case of a market crash, and that’s extremely important.
User Friendliness 18/20
The website is translated into 7 languages, with support offered in English, Russian, Arabic, German, and Spanish. The website is very easy to navigate, pleasing to the eye and all info is accessible. Demo accounts are available (free and unlimited) as well as mobile versions of the platform (iOS and Android). Unfortunately, U.S. customers are not accepted.
Range Of Markets, Spreads, And Leverage 18/20
NSBroker offers a very large asset basket, composed of more than 100 tradable instruments from all major classes (indices, stocks, commodities, currencies, and cryptocurrencies). Spreads are very low (starting at 0.8 pips) and leverage is average for the industry, going up to 1:30 for retail clients and 1:100 for professional clients.
Fees and Support 18/20
The brokerage doesn’t charge any notable fees other than spreads and swaps. Deposits and withdrawals are free of charge (no fee charged by NSBroker but you will have to check with your bank to see if they charge any). Live chat support is available in multiple languages, 12 hours on 5 business days a week (from 8:00 to 20:00 GMT+3). Their representatives were quick to respond and provided knowledgeable answers to our queries.
Deposits And Withdrawals 17/20
The minimum deposit is 250 USD/EUR/GBP but there’s no minimum withdrawal amount. The methods are credit cards and bank transfers with a fast processing time of 1 – 2 days for withdrawals and usually instant for card deposits.
NSBroker Extras 16/20
We think that supervision from 7 separate financial watchdogs is the most important extra but we cannot help but mention the Negative Balance Protection (the account cannot go below zero) and a large number of cryptocurrencies available.
NSBroker Overall Ratings (85) + Regulation (3) = 88/100